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With a population of more than 382,000 (2007), Tampa is a great place to have a rental property or investment. The population has increased more than 25% since 2000, and the city is part of the second largest metropolitan statistical area in the state. Moreover, the total number of housing units has undoubtedly grown from the 2000 estimate of 135,776 and current average residential rental rates range from $705-$1,447.

Tampa is a large city located on the Gulf Coast of Central Florida. It is part of the large Tampa Bay Area that makes up the second biggest metropolitan area in Florida (behind only Miami). Located just an hour-and-a-half away from the major city of Florida, Tampa is a favorite coastal spot for visitors interested in the state’s theme park and entertainment sector. It also serves as a prime real estate location for those people who work in Orlando but desire to live on the coast.

Downtown Tampa has recently gotten attention from the city government as an area in need of revitalization. As a result, efforts are being made to bring business to the area and a number of new shops and restaurants are starting to open up. The creation of apartment and loft-style residences in the area is likely to drive up real estate costs in downtown Tampa in the months to come.

In addition to Downtown Tampa, there are five major sections of the city. To the west of downtown is West Tampa, a historic neighborhood that is seeing development in conjunction with the changes happening downtown. East, North and South Tampa are all sections of the city that are comprised of a mixture of residential and commercial districts. A section called New Tampa is a 24-square-mile neighborhood that is the area of biggest growth in recent years in terms of both home and business development.